Cost of living crisis hits poorest the hardest, warns UNCTAD |

UNCTAD’s analysis shows that It’s a A 10% increase in food prices will reduce incomes of the poorest families by 5%roughly equivalent to what those families would normally spend on health care.

When consumers try to reduce their spending, they will pay dearly for cheaper but unsafe products. The United States report 43,000 deaths and 40 million injuries each year are related to consumer products, at an annual cost of over $3,000 per person.

“Governments must try continue and succeed in their longstanding mission of protecting their consumers, a mission relevant today,” speak UNCTAD Secretary General Rebeca Grynspan at the organization Intergovernmental meeting on consumer protection held on July 18 and 19.

The cross-border threat

Keeping consumers safe is generally a top priority for governments around the world. UNCTAD research shows that with a growing network of laws and standards that promote product safety.

While more developed countries have adopted product safety frameworks, including legislation, enforcement agencies, recall mechanisms and media campaigns, developing countries have weaker systems. , UNCTAD said, is less likely to regulate the woes of unsafe products.

Therefore, more international cooperation is needed to improve product safety for everyone.

Year 2020 UNCTAD adopted its first product safety recommendation. It aims to limit the flow of unsafe products that are being traded in the international market, by strengthening the relationship between consumer product safety regulators and by sensitizing businesses and consumers.

‘Great potential’

The UNCTAD recommendation offers a huge potential to protect consumers in my country and yours, if deployed on a large scale,” said Alexander Hoehn-Saric, Chairman of the US Consumer Product Safety Commission. “By working together, we can improve product safety for all of our consumers.”

UNCTAD says consumers are increasingly vulnerable as they may not be aware that health or safety requirements vary from country to country and may assume that all products sold online All lines are safe.

Because consumers often underestimate the risk and can decide to buy the cheapest products under the necessary financial conditions.

Helena Leurent, general manager of Consumers International, said: “Product safety is one of the key pillars or drivers of consumer trust,” said consumer ignorance. a big challenge.

Safer area

Shipping companies are working towards sustainable shipping as part of the Sustainable Development Goals.

Based on UNCTAD’s World Map of Consumer Protection60% of countries lack experience in cross-border enforcement when it comes to consumer protection.

“Most countries in Africa do not have the capacity or experience to deal with the distribution of unsafe products,” said Willard Mwemba, Executive Director of the COMESA Competition Commission.

Senior officials participating in the UNCTAD meeting agreed that preventing cross-border distribution of known unsafe consumer products is a top priority for countries, as it can improve trust consumers and promote sustainable economic development.

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